Sell Your House For Assisted Living
Making the decision to move into an assisted living establishment is a huge leap. There are so many pieces that could influence this decision and how you should go about it. But the bottom line is that you, or your loved one, needs care that simply can’t be provided for them while they still live in their current home. That takes a house that was once perfectly acceptable and turns it into an unwanted property. Sure, you can keep the property, worry about shutting off the water and hand it over to some realtor, hoping they’ll be able to liquidate the property fast enough to get you the funds you need to put you or your loved one into an assisted living situation without breaking the bank. Or you can liquidate the property immediately for a great deal by selling your house for cash.
Do You Intend to Return To Your Home After Entering Assisted Living?
To be sure, it could be better to hang onto your property if you intend to leave the assisted living establishment after a period of time, presumably once you’re back up on your feet. However, if you have no intention to return to your home, it’s most likely best to liquidate that unwanted property now so that you can use those funds for the things you actually need, like being able to pay for the assisted living unit for you or your loved one.
What is a Lifetime Annuity?
What many folks do when they sell an unwanted property to help them move into an assisted living home is purchase a lifetime annuity with the proceeds of the sale. This product essentially functions in the opposite manner of a life insurance policy. Essentially you pay a large sum now, and your annuity ensures that you’ll get a monthly stipend that allows for you to pay your bills. This is the best scenario for many folks moving into assisted living as it allows for them to still pay for their own living expenses while not busting the bank. This protects people from running out of funds because they were unable to estimate their own life expectancy and save accordingly.
What Hassle Is Involved With An Empty House?
If you’re considering moving your loved one into an assisted living home, chances are it’s at least in part because you don’t have time to take care of them in the fashion that they now need. That means you certainly won’t be prepared to take on the hassle of dealing with an empty property. You’ll have to still pay for the home insurance and taxes as well as deal with various repairs. Some houses within certain city limits in Northern Colorado will accrue utility costs, even without it being used ever. For example, the city of Fort Collins has a flat rate on every property for wastewater that will average out to be about $40 to $50 a month, even if the house is completely unoccupied. That adds up quickly and turns the house into a liability in a variety of ways.
Does Anyone Live Close to the House?
If you, nor your siblings live close to the house your loved one is leaving to go into assisted living, you’re introducing a whole suite of new problems into your life. If you’re intending to move your loved one into an assisted living home near you, rather than near to their old house, you’ll have to return on the regular to check on the sale or help with renting the property out. Do you have the money and time to potentially drive to or fly to this new unwanted property? Probably not.
Do You Want the Money to Pay For Senior Care?
Do you currently have the money available to put your loved one or yourself into an assisted living program? Do you have the money to keep them comfortably in this assisted living home for some time? Selling their old, unwanted house in Northern Colorado for all cash now is a better solution to a problem you’re currently facing. It opens doors to find better solutions to keep them safe and happy while being taken care of in their new assisted living home.
Contact Colorado All Cash
Make sure you or your loved one can comfortably move into assisted living by liquidating your unwanted property now. Don’t wait until it becomes a major burden and gets harder to get rid of. Reach out to us to get your all cash offer now. We’re excited to hear how we can help you get out of an uncomfortable financial situation now.